As of December 31, 2017, the number of enterprises based in East China’s Anhui province reached 1.01 million, representing a year-on-year increase of 23.56 percent, statistics from the provincial administration for industry and commerce showed.
In 2017 alone, 231,500 companies were registered in the province, up 21.91 percent from a year earlier.
The constant growth was largely attributed to a reform dedicated to streamlining administration and delegating power.
Since 2017, the province has taken new measures including integrating business certifications and licenses into one consolidated business license and cutting red tape for annulment.
The reform reduced items of procedures for post-registration approval in Anhui to 183, the fewest among dozens of Chinese provinces.
Thanks to the reform, the province removed many institutional obstacles to mass entrepreneurship and stimulated market vitality.
Statistics showed there had been 3.81 million market entities across the province by the end of 2017, up 17.33 percent year on year. Out of them, 704,200 were registered last year, a 17.11 percent rise.
The number of market entities has soared for 4 years in a row, from 1.93 million in 2013 to 3.81 million in 2017. Such an average annual increase of more than 20 percent exceeded the national averages.
On a monthly basis, the number of newly-registered entities surged to 58,000 from 33,000 before the reform was initiated.